Duncan Engineering Ltd

Duncan Engineering Limited trading window closed from October 1, 2026 till the expiry of 48 hours after the declaration of Financial Results for the quarter ended September 30, 2026

Rating action & instruments

• Long-term cash credit: Rs 14.00 Cr; BBB+(Stable); reaffirmed/assigned for enhanced amount.
• Short-term facilities: Rs 14.50 Cr; A2; reaffirmed/assigned for enhanced amount.
• Total facilities: Rs 28.50 Cr.
• Outlook: Stable.
• Rating action date: August 25, 2026.
• Enhanced limits indicate higher credit exposure under existing facilities.
• Rating Agency: ICRA Limited.

Rationale & surveillance

• Rationale not provided in the excerpt.
• ICRA reserves the right to review ratings based on new information.
• Surveillance due within one year from rating communication.
• Outlook already reflected in BBB+(Stable) rating.

Financial highlights

• Revenue from operations: 2,216.20 for the June 30, 2026 quarter.
• Total income: 2,315.60 for the quarter ended June 30, 2026.
• Profit before tax: 120.18 for the quarter ended June 30, 2026.
• Profit for the period: 93.78 for the quarter ended June 30, 2026.
• Total comprehensive income: 116.61 for the period.
• Basic EPS: 2.52; Diluted EPS: 3.20.
• Paid-up equity share capital: 369.60.
• Current tax: 6.98.

Meeting Details

• Board meeting on Aug 3, 2026 to consider unaudited quarterly results for quarter ended June 30, 2026.

Key Agenda Items

• Consider and approve unaudited quarterly results for the quarter ended June 30, 2026.
• Any other matters as may be considered appropriate by the Board.

Other Notes

• Trading window closed from July 1, 2026 and reopens 48 hours after publication of the results.

Dematerialisation processing and listing

• Dematerialisation requests received in the reporting quarter were confirmed to depositories (accepted/rejected).
• Securities dematerialised have been listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after due verification.
• The depository's name has been substituted as registered owner within prescribed timelines.

Dividend details

• Dividend type: Final dividend for FY 2025-26.
• Dividend amount: Rs 3.00 per equity share.
• Face value: Rs 10 per share.
• Dividend rate: 30% of face value.
• Record date: 17 July 2026.
• Tax deduction at source applicable.

Financial highlights

• Revenue from operations: 8,067.35 Lakhs; down 4.77% YoY.
• Total revenue: 8,294.59 Lakhs; down 5% YoY.
• PBT: ₹653.04 Lakhs; down from ₹674.76.
• PAT: ₹486.01 Lakhs; down from ₹521.07.
• EPS: ₹13.15; vs ₹14.10.
• Final dividend ₹3.00 per share; total ₹110.88 Lakhs.
• Net worth ₹6,075.44 Lakhs; up 6.87%.
• Retained earnings ₹4,686.37 Lakhs; up from ₹4,311.22.
• Dividend Distribution Policy available on company website.

Dividend & capital structure

• Equity share capital: 36,96,000 shares; paid-up ₹369.60 Lakhs.
• Promoter holding 74.56% as on 31.03.2026.
• Promoter mix: AG Ventures 50.01%, Cosmopolitan 24.50%, Duncan Int’l 0.05%.
• Record date for dividend: 17 July 2026.
• 65th AGM on 24 July 2026 via VC/OAVM.

Operations & geography

• Single segment: General Engineering Products.
• Domestic revenue ₹8,046.98 Lakhs; exports ₹20.37.
• DEL Arabia formed 11 December 2025; not yet operational.
• Intercompany loan to Holding Company ₹500 Lakhs; repaid within 10 days.
• Capital commitments ₹65.12 Lakhs (net of advances).

Governance & audit

• Board of five directors; one woman, mix of promoter, executive and independent.
• Arti Kant ceased as director on 6 Aug 2025.
• Shanu Gupta appointed Company Secretary on 16 May 2025.
• Statutory auditor: S S Kothari Mehta & Co. LLP; Secretarial auditor: S. Vaishnav & Associates.
• Related party transactions are arm’s length; omnibus approvals in place.
• Five board meetings conducted in FY2025-26; MD/CFO certifications filed.

CSR & sustainability

• CSR spend ₹17.13 Lakhs; 2% average net profit ₹17.01 Lakhs.
• CSR obligation for year ₹16.13 Lakhs; no surplus carry forward.
• Unspent CSR funds: none.
• CSR focus: education, health care, environment.

Management discussion & outlook

• India FY2026 growth expected 6.5-7%.
• Industry trend: automation and integrated solutions.
• Opportunities: industrial automation, oil&gas, defence sectors.
• Outlook: balanced growth across segments; expansion in Middle East.

Capital management & risk

• ICRA rating: BBB+(Stable); short-term A2.
• Net debt to equity ratio: 0.06; cash ₹5.75 Lakhs.
• Net cash from operations: ₹-62.23 Lakhs; financing ₹14.40; net cash flow negative.
• Exposed to currency and interest rate risk; managed via diversification.